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Cortez Company sells chalrs that are used at computer statlons. Its beginning Inventory of chalrs was 160 units at $49 per unit. During the year,
Cortez Company sells chalrs that are used at computer statlons. Its beginning Inventory of chalrs was 160 units at $49 per unit. During the year, Cortez made two batch purchases of this chalr. The first was a 290-unit purchase at $54 per unlt, the second was a 380-unit purchase at $56 per unlt. During the perlod, It sold 520 chalrs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending Inventory. assuming that Cortez uses a. FIFO. b. LIFO. c. Welghted average. (Do not round intermediate calculations. Round your final answers to nearest whole dollar amount.)
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